webinar strategic priorities- aug 2 2016
TRANSCRIPT
Best practices for identifying strategic priorities.
Why do strategic planning?• To focus your resources on the things that are
going to have the most impact.
• To give a sense of purpose and direction to your staff.
• To not be surprised by (and suffer from) events that happen inside and outside your organization.
Learning Outcomes• Be able to identify the best alternatives for you
and your team
• Be able to prioritize different strategic initiatives.
• Be able to measure and mange progress against goals
• Have a deeper understanding of the strategic planning process and how it can help your organization.
About me.• Managing Partner at SME Strategy Consulting
• Entrepreneur, Author and Speaker.
• Passionate Soccer Fan
• Have watched a baseball game in 7/30 MLB stadiums
• Started SME Strategy to help business owners with the things that they don’t know.
What are strategic priorities
• Over arching activities that help guide your team with your everyday activities & additional responsibilities.
Why are they important?
• They make your strategy easy to understand communicate to your team and stakeholders.
• Think of New Years resolutions
Part of the Process• At SME Strategy we use Aligned Strategy
Development
• Creating and identifying priorities is part of a holistic process to create and implement on a strategic plan.
Feel free to use any methodology you like: As long as you get your plan executed
Look at the Vision and Mission
• What is going to make the biggest impact towards accomplishing your mission and your vision.
Part of a ProcessYou can break the process into pieces, but….
SWOT + Trends
Strengths Weaknesses
Opportunities Threats
Trend spottingPESTLE
o Politicalo Economicalo Socialo Technologicalo Legalo Economical
How do you determine the best strategic
priorities?
Want to know what people care about? Ask them
• Run a survey
• Brainstorm within teams
• Create a culture of sharing
• Strategic planning off-site
Questions we ask
• If you had to pick one goal or target for us to hit over the next 12-24 months, what would it be?
• If you had 3 wishes that would make your job better or make the company run better, what would they be?
Important side note
• Your organization is made up of people.
• Are you managing them, leading them or working with them?
• They hold the key to the success of your plans.
Putting the picture together
• Based on your SWOT, trends and direction and guidance.
• What are some important priorities for you and your team that will move the needle on your organization?
How do you prioritize• Dot-mocracy.
• Cost/benefit
• Expertise
Strategy is art and science; Prioritization is the hard part of strategy
Measurement
• What other measures would contribute to that larger goal?o If you could think of three (not more) objectives that would move the
needle on that one most important goal, what would they be?
Measurement
• If you could choose one measure that would have the most impact on the achievement of that vision, what would it be?
o Think of that measure in the terms of going from X to Y by a certain date.
o Can everyone in the organization contribute to this measure?
Balanced Scorecard
Balanced Score Card• Objectives
• Measures
• Targets
• Initiatives
Strategic goal examples
• http://www.smestrategy.net/blog/strategic-goals-examples-kpi-measurements-strategy-and-business-planning
Balanced Scorecard
Creating KPI’s• Pushing on your people vs. pulling from your
people.
• You team is more likely to be engaged and bought into the plan if they are consulted throughout the process.
• What targets are achievable and realistic?
Allocating resources to achieving the priorities
• Project planObjectives, Strategies and Tactics
• Who is responsible for the initiatives?
• Don’t swim part way.
Risk: TOO MANY Priorities• It is very likely that there are several priorities
that your team wants to embark on.
• If you have 10 Priorities, you have none.
• We recommend 3 or 4; once you have met your goals, move on.
Actions: NOW• Get the ball rolling with easy wins.
• Take your team and plan 30/60/90 day targets.
• Who is responsible of the success of the initiative?
• See Kotter change Model
Communicating
Communicating• Text
• Audio
• Video
• Meetings
• Other
In Summary• Look inside and out
• Align your priorities with your mission and vision
• Make goals that everyone can contribute to
• Make the priorities simple to understand, explain and measure.
• Don’t do too much.
Thank you for attending
• www.strategicplanningtrainingcourse.com
• Normally: $995.00
• Today only - $295.00
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